Feature Article
Enel SpA: Renewable Energy Super Major
By
Roger S. Conrad on
May. 12, 2025
Enel SpA (Italy: ENEL, OTC: ENLAY) will invest roughly EUR43 billion on its 2025-27 strategic plan. That includes adding 12 gigawatts of solar, onshore wind and “dispatchable technologies” like hydro and batteries, lifting global renewable energy output by 15 percent and capacity to 76 GW.
Coupled with grid investment and cost control, the new assets are expected to boost EBITDA 30 percent by 2027, following a 30 percent lift from 2022-24. That in turn will fuel more mid-to-upper single digit percentage annual dividend growth.
Chevron Corp: Super Major at a Bargain Price
By
Roger S. Conrad on
May. 12, 2025
It’s no exaggeration to say oil and gas super majors like Chevron Corp (NYSE: CVX) are financially stronger than many sovereign nations. And climate change concerns notwithstanding, the oil and natural gas they produce, refine and market is as essential to a functioning modern world as it was 40 years ago—when I started out in the investment advisory business.
So when a stock like Chevron drops enough to yield roughly 5 percent, I want to take advantage. For disclosure, I’ve owned the dividend reinvestment plan since the 1980s—and my annual dividends are literally now more than my initial investment!
Stronger Utility Earnings But Higher Stock Prices
By
Roger S. Conrad on
May. 12, 2025
Don’t get me wrong. There’s nothing I like more than seeing carefully chosen portfolio stocks suddenly be discovered—and surging to big gains. But when markets shift, even long-term and income-minded investors have to consider tactics.
First, let’s revisit the turnaround of the past month—actually a true wonder to behold.
Another Debt-Triggered Dividend Cut
By
Roger S. Conrad on
May. 12, 2025
Canada’s BCE Inc (TSX: BCE, NYSE: BCE) is cutting its dividend from an annual rate of CAD3.99 per share to CAD1.75—effective with the July 15 payment.
Management had telegraphed a “dividend re-set” of some magnitude during the Q4 2024 earnings call back in February. And the stock was already priced for a reduction, yielding in the low teens. So there was little market reaction, despite a larger than expected -56 percent cut.
Answers to Your Utility Energy Questions
By
Roger S. Conrad on
May. 12, 2025
Every US electric utility but one—T&D company National Grid (London: NG, NYSE: NGG)— has now released Q1 results and updated guidance. So have all major contract generation companies, with the exception of NRG Energy (NYSE: NRG).
Both are scheduled to report later this week. But we’ve already learned much about the state of the sector, where it’s headed and what it means for investors.
NextEra Energy: Top Quality, Compelling Value
By
Roger S. Conrad on
Apr. 7, 2025
US demand for electricity is projected to grow six-fold over the next 20 years. And no power company is better positioned to benefit than Florida-based NextEra Energy (NYSE: NEE).
The company is best known as America’s largest producer by far of energy from solar, wind and battery storage. But it’s also the seventh largest nuclear power developer and operator in the world. That includes 4 plants selling into wholesale markets, with the shuttered Duane Arnold facility in Iowa now reopening.
Telus Corp: High Yield with a Canadian Accent
By
Roger S. Conrad on
Apr. 7, 2025
Rising free cash flow as 5G wireless and fiber broadband expansion reaches targets. More favorable regulation, regardless of what party wins upcoming Canadian elections. Rapid artificial intelligence growth in partnership with NVIDIA (NSDQ: NVDA), and a building West Canada energy boom:
All are driving growth at Canadian communications company and new Aggressive Holding Telus Corp (TSX: T, NYSE: TU).
Crown Castle Cuts, Who’s Next?
By
Roger S. Conrad on
Apr. 7, 2025
Elevated debt has claimed another dividend: Communications infrastructure operator Crown Castle (NYSE: CCI) announced last month it will cut its quarterly dividend from $1.565 to $1.0625 per share, starting with the June payment.
The -32 percent “re-set” reflects the earnings loss from the sale of real estate investment trust Crown Castle’s fiber broadband and “small cell” operations in two separate deals for “aggregate proceeds” of $8.5 billion. Management expects to use $3 billion of that to fund a share buyback plan, the rest to pay down credit lines and make a dent on $23 billion plus of long-term debt.
Big Declines are Bullish for Stocks with Pricing Power
By
Roger S. Conrad on
Apr. 7, 2025
Even on washout trading days like April 4, 2025, some stocks gain ground.
Friday’s Utility Report Card winners were basically a handful of non-US stocks. The long-lagging utility sector has gained strength since featured in the February issue.
Tariffs and Trade Barriers: Where Utilities Stand
By
Roger S. Conrad on
Apr. 7, 2025
Call it “Liberation Day” or the “Greatest Economic Own Goal in History.” The Trump Administration’s tariffs on substantially everything Americans buy will have an impact.
That realization has now sunk in for the stock market. Down roughly -18 percent from its late February peak, the S&P 500 is now firmly in correction territory. That’s defined as a drop of at least -10 percent from the most recent high.
MODEL PORTFOLIOS & RATINGS
Aggressive Income Portfolio
Roger's favorite utilities for investors seeking superior price appreciation by taking calculated risks.
Conservative Income Portfolio
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Top 10 DRIPs
Nothing compounds wealth like reinvesting a rising stream of dividends.
Endangered Dividends List
Warning: Falling Dividends.
Utility Report Card
Roger's current take and vital statistics on more than 200 essential-services stocks.
Conrad's Utility Investor
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